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20130319
20130319
Search Results 0 to 3 of about 4 (some duplicates have been removed)
march 1st and to make thing more interesting we run back into the ceiling debt much later and that rolls up into the fiscal cliff 2.0 in how the government tempts to deal with it. so you may ask yourself we have a portion of the tax increases went through and who knows exactly what congress is going to but it's probably a pretty good guess that we get to the very last minute right before the march 1st effective gate date for the spending cuts and then we get some other short-term extension to add to this made for tv drama that they seem so fond of lately and you wonder where does it get us long term and how are we able to close the gap here the congressional budget office has looked at what they consider to be the most likely outcome of the ongoing negotiations which, is a marshal implementation of these spending cuts and what you see here are two lines. the top line is out lace as a percentage of gdp or government spending as a percentage of gdp and starting today and going out through the end of 2022 and this is a forecast for the next nine years and going below that is rather a new
will raise the debt ceiling so the country doesn't default but only if you agree to a dollar for dollar reduction in spending over the next decade. that $2.5 trillion in spending restraints, not real cuts, spending, less than obama had hoped but in washington that is called a cut. if you want 10 of something and you only got eight of something, you walked away with eight but so that was the $2.5 trillion spending reduction over the next decade. it hasn't happened yet. we have several problems. the trillion dollars that obama obama -- obamacare tax increases in this decade have begun to hit now. oddly enough the democrats in the house and senate decided to put the tax increases, both of them after the 2012 election so everybody voted and now the tax increase has hit. this is not helpful for the economy and they think it's going to be unpleasant. >> host: up next from watertown south dakota on the democratic line. good morning, ron. >> caller: good morning and thanks for taking my call. i listened to you for a long time and i find very little that i don't disagree with. however, i know a
two surveys, nearly 90% of respondents think congress will raise the debt ceiling every time it's reached. let's move on to what wall street thinks -- will they consider with the sequester? yes. will it consider and change the makeup. 33% say yes. should it increase spending cuts? 21 #% said. bottom line, only 17% a year think congress should reduce the spending cuts. if you add all of this up together, what you find is a large number who believe congress should keep the plan but they want a little flexibility. how urgent is it? 80% of the march survey said congress should urgently enact a sustainable deficit plan. that has come down to 67% with 25% agreeing that it needs a little more time. that group of respondents, 54 of them market participants say that they should be reducing the deficit. here's some of the can comments. the only thing the economy has to fear is washington itself. an interesting comment. the public wants less cutting of the budget. they are seen as positive. the boost of confidence has a greater positive gdp impact than the the negative gdp impact. and it's
Search Results 0 to 3 of about 4 (some duplicates have been removed)